Late Monday, US President Donald Trump announced plans to levy tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The purpose is to bring production to the United States, boosting domestic manufacturing and aiding the production of military hardware.

India's trade surplus with the US and its reliance on American trade policy for US dollar earnings make it a key player.

Donald Trump outlined his vision of a new economic model where the US would no longer tax its citizens to enrich foreign nations.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas.

Some are suggesting that this would affect the price of everything Apple makes, as its chips are made in Taiwan, but that’s almost certainly not the case … The Register reports that Trump threatened to set the rate as high as 100%.

President Donald Trump has stated that he plans to impose tariffs as high as 100% on semiconductors made outside the U.S. Trump previewed the plan Monday afternoon during a GOP event in his Doral, Florida,